Iberia Visa Signature Card Review: Is There More to This Card Than Its Valuable Sign-Up Bonus?

Iberia loyalists can earn big rewards with the Iberia Visa Signature Card, but it may not be the best option for everyone.
Last updated Oct 14, 2020 | By Kevin Payne

FinanceBuzz is reader-supported. We may receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

From Spanish airline Iberia comes the co-branded Iberia Visa Signature Card. The airline credit card comes with some discounts and perks, especially beneficial for frequent flyers of Iberia Airlines. Despite those benefits, it may not be a good addition to everyone’s wallet.

Keep reading this Iberia Visa Signature Card review to learn more about the card, its pros and cons, and whether it's the right card for you.

Generous Iberia Rewards

Iberia Visa Signature Card

Iberia Visa Signature Card

Iberia Visa Signature Card

Benefits

  • Up to 100,000 bonus point sign-up offer
  • 3X points on Iberia purchases
  • No foreign transaction fees

Jump To

Who should get the Iberia Visa Signature Card?

There are two types of individuals who will benefit the most from the Iberia Visa Signature Card — loyal Iberia travelers and fans of Avios, the frequent flyer currency you can earn with this card. Perks like discounts on flights and a $1,000 voucher toward future travel make this card a no-brainer if you regularly fly on routes covered by Iberia Airlines.

The sign-up bonus for the Iberia Visa is two-tiered, providing huge bonuses to cardholders that hit specific spending requirements in the first year. The first bonus is comparable to offers you’d see from other travel cards, whereas the second one requires much higher spending. The card’s value drops considerably If you don’t plan to use it often enough to earn the full bonus.

If you don’t fly Iberia or aren’t keen on Avios rewards, you’re probably better off with either a general travel credit card or one co-branded with your favorite airline. Even if Avios is your rewards program of choice, other travel cards may have better earning potential long term.

Card basics

Card type Travel
Credit card issuer Chase
Credit card network Visa
Annual fee $95
Intro bonus Earn up to 100,000 points: 50,000 points after you spend $3,000 in the first 3 months; plus, another 50,000 points after you spend $20,000 in the first year
Reward rate 3X points on Iberia purchases, 2X points at hotels, and 1X points on all other eligible purchases
Recommended credit score Excellent, Good
Foreign transaction fee None

Iberia Visa Signature Card benefits and perks

  • Generous sign-up bonus: You can earn up to 100,000 points: 50,000 points after you spend $3,000 in the first 3 months; plus, another 50,000 points after you spend $20,000 in the first year of account opening.
  • Flight discount: Cardmembers get 10% off Iberia flights purchased on iberia.com/Chase10.
  • Discount voucher: You can earn a discount voucher of $1,000 to use toward two tickets on the same flight every calendar year you make $30,000 worth of purchases using your card.
  • No foreign transaction fees: The Iberia Visa has no extra charges for international purchases using the card. This is a big perk considering Iberia is based in Spain, and it could lead to considerable savings if you travel overseas often.
  • Contactless card: In the age of social distancing, having a credit card that features contactless technology is even more attractive. The Iberia Visa Signature card lets you tap to pay wherever contactless payments are accepted.

Drawbacks to the Iberia Visa Signature Card

  • Annual fee: The Iberia Visa card has a $95 annual fee, which may not be bad the first year if you earn the sign-up bonuses, but it might not be worth it long term.
  • No flight benefits: For an airline credit card, it has surprisingly few benefits related to flying on Iberia. Many airline cards come with perks like checked bag waivers, airport lounge access, and priority boarding.
  • No surcharge waivers: The British Airways Visa Signature card allows cardmembers to use Avios points to pay for taxes, fees, and other charges on booked flights. That’s not the case with the Iberia Visa.

Earning and redeeming Avios rewards

Potential earnings in years one and two

Here's a look at how your points can add up with the Iberia Visa Signature card. To calculate these values, we used a point valuation of 1 cent.

Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $1,240

Year two earnings: $240

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model, which looks at points earned via spending, the sign-up bonus, and the annual fee.

Note that the values above account for general travel spending, not spending specifically on Iberia Airlines purchases or hotel stays. If you spend in these categories often, you’ll likely get much more value from this card.

Best ways to earn

The Iberia Visa Signature Card’s biggest earning potential comes from earning its sign-up bonus. You’ll earn up to 100,000 points: 50,000 points after you spend $3,000 in the first 3 months; plus, another 50,000 points after you spend $20,000 in the first year. If you have any large purchases coming up, using a credit card like this is the perfect opportunity to get you closer to those spending requirements.

Another way to earn more Avios is through flight purchases. You’ll earn 3X points per dollar spent on Iberia purchases. This is the highest rewards tier offered with this card. You’ll also earn 2X when you book hotels and 1X on all other eligible purchases.

Categories Rewards rate
Iberia purchases 3X
Hotels 2X
All other eligible purchases 1X

Maximizing your redemptions

The Iberia Visa Signature Card earns Avios, a versatile rewards currency. You can also use your Avios to book flights on Iberia, British Airways, and Aer Lingus, or transfer them to partner airlines through the oneworld alliance. Redemption value depends on where you’re traveling to and whether it’s peak or off-peak season.

You can also use Iberia Avios to upgrade economy tickets to business class, which gives you access to luxurious travel amenities like more spacious or private seating, in-flight Wi-Fi, more dining options, and more. With an upgraded seat, your long-haul flight becomes a blessing, not a burden. Beyond airfare, other redemption options include hotel accommodations, car rentals, and various travel experiences.

Iberia Visa Signature Card transfer partners

Iberia is part of oneworld alliance, a global network made up of 13 partner airlines with flights to more than 3,200 destinations worldwide. Cardmembers can search for award flights directly on Iberia’s website or through any oneworld alliance partner.

Oneworld alliance is made up of the following airlines:

  • American Airlines
  • Cathay Pacific Airways
  • Finnair
  • Iberia
  • Japan Airlines
  • Malaysia Airlines
  • Qantas
  • Qatar Airways
  • Royal Air Maroc
  • Royal Jordanian Airlines
  • S7 Airlines
  • SriLankan Airlines
  • Fiji Airways
  • Alaska Airlines

There is not an official Avios awards chart currently published online, which makes redeeming points for flights a bit confusing. Redemptions are based on flight distance and whether it's a destination’s peak travel season.

Iberia Visa Signature Card FAQs

What credit score do you need for the Iberia Visa Signature Card?

To get approved for the Iberia Visa Signature card, you’ll likely need a good-to-excellent credit score. A good FICO credit score is at least 670, and any score 800 or above is an excellent score.

Is the Iberia Visa Signature Card a good credit card?

The Iberia Visa Signature Card is great if you regularly fly Iberia. Most of its value is found in the first year — cardholders can earn substantial bonus offers by hitting two spending requirements within the first 12 months of account opening.

What airlines does Iberia partner with?

Iberia has 12 partner airlines through oneworld Alliance, including British Airways and American Airlines.

What are the benefits of a Visa Signature card?

Visa Signature cards come with extra perks not found with other Visa cards. Benefits may include rental car insurance, extended warranties on purchases, roadside assistance, lost luggage insurance, travel accident insurance, cell phone protection, and more. Not all Visa Signature cards come with the same benefits, so be sure to check with your card issuer to see which perks are included with your card.

How can I use Avios points?

You can use your Avios points to book flights on Iberia and its oneworld alliance airline partners. There’s also an option to use Avios points through Iberia Plus, the airline’s rewards program, to book flights and hotel accommodations, seat upgrades, rental cars, and to shop online.

Other cards to consider

Travelers looking for a more versatile rewards card should consider Chase Sapphire Preferred. This travel credit card gives you access to Chase Ultimate Rewards, one of the most popular travel rewards programs. Cardmembers can book travel directly through the Chase portal for maximum value or transfer points to its airline and hotel partners. The generous sign-up bonus offers more than enough value to justify the $95 annual fee, but the card comes with access to other beneficial travel perks.

Another travel credit card worth considering is the Amex Gold Card. This rewards credit card offers an excellent welcome offer and access to the Amex Membership Rewards program. This card earns bonus points in popular spending categories, including purchases at U.S. supermarkets, restaurant purchases, and flights booked with Amex Travel. Although it has a $250 annual fee attached, for frequent travelers, the value of the welcome bonus and other travel perks can exceed the cost.

Generous Iberia Rewards

Iberia Visa Signature Card

Iberia Visa Signature Card

Iberia Visa Signature Card

Special Offer

Earn up to 100,000 points: 50,000 points after you spend $3,000 in the first 3 months; plus, another 50,000 points after you spend $20,000 in the first year

See how these cards compare:

Chase Sapphire Preferred
Chase Sapphire Preferred
  • 80,000 point sign-up bonus
  • 2X points on eligible dining and travel purchases
  • 25% more value when redeeming rewards for travel through Chase Ultimate Rewards
  • Premium travel protection benefits
American Express Gold Card
American Express Gold Card
  • 60,000 Membership Rewards point welcome offer
  • High rewards rate in certain categories
  • Up to $100 airline fee credit
  • No foreign transaction fee
  • Terms apply